President Donald Trump’s social media company, Trump Media & Technology Group, is expanding into financial services with plans to offer investment products aligned with its “patriotic economy” platform. The move aims to capitalize on support from Trump’s 100 million followers on X, his primary online megaphone.
Trump Media has applied for trademark applications for exchange-traded funds (ETFs) and other investment products, including a Bitcoin-focused ETF. The company plans to partner with Yorkville Advisors, an investment firm in New Jersey, to create and manage these products.
The firm’s CEO, Devin Nunes, stated that the goal is to cater to investors who share “America First principles.” However, critics worry about potential conflicts of interest given Mr. Trump’s role as a shareholder and his nominee for Securities and Exchange Commissioner, Paul Atkins.
Dennis Kelleher, chief executive of Better Markets, expressed concerns over the president’s involvement in financial activities that may require approval from his appointed regulator. “The president is trying to make money from financial activities that require the approval of his appointed chair,” he said.
Trump Media’s entry into financial services comes amid struggles to generate revenue through advertising on its platforms. The company has over eight million followers on Truth Social, but Mr. Trump’s online presence is stronger on X.
Source: https://www.nytimes.com/2025/02/06/business/trump-media-financial-services.html